Fredrik Knutsson, Vice President and Head of Commercialization at Plexian, talks about what the upcoming issue proceeds will be used for and about his area of responsibility for bringing the Edge platform to market.
Who are Plexian and can you briefly tell us about your business?
Plexian operates in the FinTech industry and offers a modern loyalty platform for B2B through the product Edge. We help our customers increase their growth through increased customer engagement and better and more relevant offers. Currently, we operate primarily in Sweden, but in the long term we will also offer our services and products internationally.
Fredrik Knutsson, you have just taken on the role of Vice President and Chief Commercial Officer of Plexian. Can you tell us a little about your background and what your primary mission will be at Plexian?
I have a long background in sales and business development of software in customer care and communication. I have also worked extensively with related consulting services both in Sweden and internationally. My mission is to further commercialize Edge and take the platform to market. We do this by demonstrating the great value Edge adds by creating added value for the companies and brands that use the platform.
Twilio, which you worked for, has a good reputation on the stock market and is a multi-billion dollar company. What lessons can you learn from there and implement in Plexian?
Plexian has a more modern offering than traditional solutions. I want to improve how companies work with loyalty solutions with Plexian in the same way that Twilio did in communications. We will, just like Twilio, be responsive to our customers' challenges and continuously improve our solution to meet them. There is also great experience from expanding quickly and internationally.p>
How do you see the opportunities for developing Plexian and making the company a well-known name in the FinTech industry?
I see these opportunities as very good. The company is right on time with a more modern approach in an important area. Traditionally, Swedish companies are quite bad at building loyalty. With increased competition for customers' time and money, there is a lot to gain by improving your offering and thereby gaining market share.
You have developed Edge, which is a very useful platform. What do you need to do to bring Edge to market and how much market potential do you see for Edge?
We have a very good solution that we want to prove to the market and we are now doing so with several initiated collaborations. We will enter a commercial phase and further develop the product in collaboration with new customers. The platform handles both smaller and larger customers, which makes the market potential significantly greater compared to the previous strategy.
Plexian is in an ongoing capital raising process where the company will raise SEK 32.8 million. What will the issue proceeds primarily be used for?
The proceeds from the issue will be used specifically for commercialization, sales and further development of the Edge platform. We have a very strong product and a good strategy that targets a broad market. Now it's about onboarding users initially in Sweden but soon also internationally.
Plexian has had a tough year on the stock market, like many other small companies. How do you plan to turn things around and what can you say to your shareholders who have been with you throughout the journey since the IPO?
Plexian, like other tech companies, has been hit by increased global concerns, reduced risk appetite and inflation. I am convinced that Edge will prove its worth with more customers who will become more successful with the help of the platform. We focus on building value for these customers and thus we of course also build great value in Plexian.
The LOI agreement signed with COOP over 1.5 years ago has not yet led to a conclusion in the matter. Is there any update to inform about the agreement?
We have an ongoing dialogue with COOP and the LOI agreement remains in place. In today's climate, all companies must carefully consider when making investments and we have long-term ambitions with both COOP and other partners.
Banks can communicate their unique benefits through the Edge platform. Image: https://www.plexian.se/bank/
What will you mainly focus on in 2023?
The focus in 2023 is to make it Plexian's breakthrough year. We are fully focused on making our customers successful, bringing the product to market and constantly improving our offering in consultation with our customers and partners.
We thank Fredrik Knutsson for the interview and wish the company all the best moving forward.
Disclaimer: This is an interview conducted on behalf of the company. Impala Nordic does not own any shares in the company. Persons behind Impala Nordic act as guarantors in the company's ongoing rights issue.
